LEGAL UPDATE
October 2025
PART I. TAX SECTOR
1. On making amendments to the Tax Code of the Republic of Armenia regarding income tax and their process.
2. On amendments and supplements to the law "On personalized accounting of income tax, profit tax and social payments".
3. On making additions and amendments to the Code of the Republic of Armenia on Administrative Offenses.
PART II. COMPETITION AND CONSUMER SECTOR
1. On establishing the procedure and conditions for submitting documents to the Competition and
Consumer Protection Commission, classifying cases of the Competition and Consumer Protection
Commission by type, maintaining administrative proceedings and other cases, their registration
registers, and registers of registration of administrative and other legal acts, as well as the procedure
for issuing, storing and archiving documents of the Competition and Consumer Protection
Commission and repealing the Decision of the Competition Protection Commission No. 394 of
December 28, 2021.
PART III: BANKING SECTOR
1. On Amendments and Supplements to the Decision No. 280 of the Board of the
Central Bank of the Republic of Armenia of October 7, 2014.
PART IV. CRYPTOASSETS SECTOR
1. Draft Regulation 7/01 on the registration and licensing of a person providing services with
cryptoassets, the issuance of a permit for the operation of a branch and representative office
of a foreign person providing services with crypto assets, the procedure for obtaining prior
consent for having a significant participation in the authorized capital of a person providing
services with crypto assets.
2. Draft Regulation 7/02 on "Minimum limits of total capital of persons providing services with
crypto assets, calculation procedure, elements participating in the calculation and deducted from
the calculation".
3. Draft Regulation 7/05 on establishing the procedure for registering persons providing services
with crypto assets and heads of branches of persons providing services with foreign crypto assets.
PART I. TAX SECTOR
(This section of legal updates includes legal news related to the tax sector for October 2025)
1. On making amendments to the Tax Code of the Republic of Armenia regarding income tax and
their process
Name of the legislative act
Law of the Republic of Armenia No. HO-324-N of 24.10.2025 on Amendments and Supplements to the Tax Code of the Republic of Armenia
https://www.arlis.am/hy/acts/215597
Change status:
The amendment to this Law entered into force on October 30, 2025.
Which legislative act was amended by the adoption of the above-mentioned act:
As a result of the adoption of the law, a change was made to the Tax Code of the Republic of Armenia.
What are the changes about:
The latest amendments to the Tax Code aim to simplify and digitize the process of submitting income tax calculations by individuals, as well as clarify some legal wording. These amendments relate to a number of articles of the Tax Code of the Republic of Armenia of October 4, 2016, in particular Articles 52, 53, 156, 156 . 1 and Articles 158.
First, Article 52 of the Code has been supplemented with a new Part 5, according to which, regardless of the general regulations established by that article, various sections of the Code may establish specifics of tax calculation and its compilation. In other words, it will be possible to establish a special calculation procedure for each type of tax, which gives the law a more flexible and practical nature.
Substantive and formal changes have been made to Article 53.
First, it has been clarified that if the electronic version of the tax calculation is not yet posted on the tax authority's website by the end of the reporting period, then the liability for late submission or payment does not apply until that version is posted.
In addition, the new edition describes in more detail the case when an individual has applied for an identification card but has not received it on time. It is now clearly stated that in such a case, the deadline for submitting an income tax calculation or paying the tax is extended until the 25th of the month following the date of printing the identification card, inclusive. It was also noted that "applying for an identification card" is considered not only the actual submission of the application, but also the booking of the visit on the state administration body's digital platform or mobile application.
The new Part 7 adds a provision according to which if a natural person is in the 4th place of Article 156 . 1 of the Code in part intended in status , then calculation considered is presented By law defined deadline day , regardless real presentation from the moment.
Article 156 , Part 4, Part 1 has been amended to more clearly define the deadlines for submitting the calculation. It now states that individuals must submit the annual income tax calculation from March 2 to July 1 of the year following each reporting period, and if March 2 is a non-working day, then from the next working day.
A new Article 156.1 , which present is tax body by income floor annual calculations pre-filling and their presented to be considered order. According to it, the tax authority itself pre-fills the tax declaration based on the data in its database.
Finally, part 3 of Article 158 has been supplemented with a new sentence, according to which the refund (compensation) of social expenses can be carried out only if the annual income tax calculation is submitted in a form certified by an electronic signature.
In general, these amendments are aimed at digitizing tax administration, simplifying and clarifying the fulfillment of tax obligations of individuals. The law provides new mechanisms for both automatic data exchange and pre-filling, as well as legal accuracy in the submission of tax calculations, deadlines, and application of liability.
Article 52 of the Tax Code of the Republic of Armenia of October 4, 2016 (hereinafter referred to as the Code) shall be supplemented with the following part 5:
Article 52. Tax calculation and its preparation
5. Regardless of the regulations established by this Article, the sections of the Code relating to the relevant tax or payment may establish specific features regarding tax calculation and its compilation.
In Article 53 of the Code, Part 6 shall be amended as follows:
Article 53. Submission of tax calculation.
Old version.
6. If the electronic version of the tax calculation is not posted on the tax authority's website by the last day of the relevant reporting period, then in terms of the application of the liability measures established by the Code for late submission of the tax calculation or late payment of the tax (fee), the deadline for submission of the relevant tax calculation or payment of the tax (fee) established by the Code or the laws of the Republic of Armenia on payments shall be postponed by the number of days from the last day of the relevant reporting period to the date of posting of the electronic version of the tax calculation on the tax authority's website. An individual who, before the deadline established by the Code for submission of annual income tax calculations (declarations), has applied for an identification card of the Republic of Armenia, but has not received the identification card by the said deadline, shall submit the annual income tax calculation (declaration) or pay the income tax by the 25th of the month following the date of printing of the identification card, inclusive.
New version.
6. If the electronic version of the tax calculation is not posted on the tax authority's website by the last day of the relevant reporting period, then, in terms of applying the liability measures established by the Code for late submission of the tax calculation or late payment of the tax (fee), the deadline established by the Code or the laws of the Republic of Armenia on payments for submission of the relevant tax calculation or payment of the tax (fee) shall be postponed by the number of days from the last day of the relevant reporting period to the date of posting the electronic version of the tax calculation on the tax authority's website. In case of individuals defined in Part 4 of Article 156 of the Code applying for an identification card of the Republic of Armenia before the deadline established by the Code for submitting the annual income tax calculation (declaration) and not receiving an identification card by the said deadline, in terms of applying the liability measures established by the Code for late submission of the annual income tax calculation (declaration) or late payment of income tax, the deadline established by the Code for submitting the tax calculation (declaration) or paying income tax shall be postponed until the 25th of the month following the date of printing of the identification card, inclusive. In case of individuals defined in Part 4.1 of Article 156 of the Code applying for an identification card of the Republic of Armenia before the deadline established by the Code for submitting the annual income tax calculation (declaration) and not receiving an identification card by the said deadline, in terms of applying the liability measures established by the Code for late payment of income tax, the deadline for payment of income tax established by the Code shall be postponed until the 25th of the month following the date of printing of the identification card inclusive. For the purposes of this Part, applying for an identification card shall also be considered as booking a visit to receive an identification card through the digital services platform or mobile application of the authorized state administration body in the field of migration and citizenship and submitting an application for receiving an identification card on the specified date in the prescribed manner.
Add a new sentence to Part 7 with the following content:
"In the case provided for in Part 4 of Article 156.1 of the Code, the date of submitting the tax calculation electronically to the tax authority shall be considered the date of the deadline established by the Code for submitting the annual income tax calculation (declaration) to the tax authority."
In Article 156 of the Code, the first paragraph of Part 4.1 shall be amended as follows:
Article 156. Submission of income tax calculations and other documents
Old version.
4.1. Citizens of the Republic of Armenia who are residents of the Republic of Armenia and who do not submit annual income tax calculations (declarations) in accordance with the procedure established by point 2 of part 4 of this Article (except for individuals considered minors as of December 31 of the reporting year) shall submit annual income tax calculations (declarations) to the tax authority in accordance with the procedure established by Article 53 of the Code from March 2 to July 1 of the tax year following each reporting period.
New version.
4 . 1 . Armenia Republic resident Individuals who are citizens of the Republic of Armenia as of December 31 of the reporting year (except for individuals who are minors as of December 31 of the reporting year) shall submit annual income tax calculations (declarations) to the tax authority in accordance with the procedure established by Article 53 of the Code from March 2 of the tax year following each reporting period (if March 2 is a non-working day , from the following working day) to July 1 inclusive.
Add a new paragraph with the following content:
Deductible (non-taxable) income received from family members is not subject to declaration. For the purposes of this paragraph, family members of an individual who is obliged to file an income tax return are considered to be his/her spouse, parents, sisters, brothers, children (adoptives and adopted children), grandparents, and grandchildren. The Government may establish types or thresholds of income not subject to declaration in the annual income tax return.
The Code shall be supplemented with the following content in Article 156.1:
Article 156.1. Pre-filling and consideration of submission of the annual income tax calculation (declaration)
1. In accordance with Part 4.1 of Article 156 of the Code, for individuals who are obliged to submit an annual income tax calculation (declaration), the tax authority pre-fills the annual income tax calculation (declaration) based on the data available in its information database.
2. The tax authority shall make the annual income tax calculation (declaration) pre-filled by the tax authority available to individuals for submission of the annual calculation (declaration) within the period specified in Part 4.1 of Article 156 of the Code.
3. Individuals who are obliged to submit an annual income tax calculation (declaration) for a given reporting year may, within the period specified in Part 4.1 of Article 156 of the Code, amend the annual income tax calculation (declaration) pre-filled by the tax authority and submit it to the tax authority in the manner specified in the Code. In the case specified in this Part, the tax authority pre-fills the annual income tax calculation (declaration) based on the data available in its information database as of the day preceding the date of signing the calculation (declaration) by the individual.
4. In the event that the annual income tax calculation (declaration) pre-filled by the tax authority is not submitted to the tax authority in accordance with the procedure established by the Code by a natural person who is obliged to submit an annual income tax calculation (declaration) for a given reporting year within the period established by Part 4.1 of Article 156 of the Code, the declaration pre-filled by the tax authority shall be deemed to have been submitted to the tax authority in accordance with the procedure established by the Code. In the case established by this Part, the tax authority shall pre-fill the annual income tax calculation (declaration) based on the data available in its information database as of the deadline for submitting the annual income tax calculation (declaration).
To supplement Part 3 of Article 158 of the Code with a new sentence with the following content:
Article 158. Payment of income tax and reimbursement (refund) of social expenses
3. Moreover, social expenses are reimbursed in accordance with this part if the person obligated to submit an annual income tax calculation (declaration) has submitted an annual income tax calculation (declaration) certified by an electronic signature to the tax authority in accordance with the procedure established by law.
2. On amendments and supplements to the law "On personalized accounting of income tax, profit tax and social payments"
Name of the legislative act
Law of the Republic of Armenia No. HO-325-N of 24.10.2025 on Amendments and Supplements to the Law "On Individualized Accounting of Income Tax, Profit Tax and Social Payments"
http://arlis.am/hy/acts/215602
Change status:
The amendment to this Law entered into force on October 30, 2025.
Which legislative act was amended by the adoption of the above-mentioned act:
With the adoption of this Law, a change was made to the Law "On Individualized Accounting of Income Tax, Profit Tax and Social Payments".
What the changes are about:
These amendments relate to the improvement of the personalized accounting system for income tax, profit tax and social security contributions.
In particular The definition of the concept of "individual entrepreneur" has been clarified, and the reference to the Law "On Tax Privileges for Self-Employed Persons" has been replaced with the formulation of individual entrepreneurs considered exclusively as micro-entrepreneurs, as defined by the Tax Code of the Republic of Armenia. In other words, individual entrepreneurs with micro-entrepreneur status are not subject to individualized registration.
The concepts of "individual" and "person liable to submit an annual income tax return" have been formulated with reference to the Tax Code, ensuring a unified approach.
The personalized registration database has been supplemented with new data, which includes information about taxpayers' family members, the period of stay in Armenia during the tax year, as well as information on income (including non-taxable) defined by the Tax Code. The deadlines for submitting data have also been clarified, and now they are regulated by the deadlines set by the Tax Code of the Republic of Armenia, rather than the previous deadline of April 20. In general, these amendments are aimed at fully integrating the personalized accounting system with the provisions of the Tax Code, increasing the accuracy of reporting, and ensuring the integrity of taxpayer data.
In Part 1, Point 3, Article 3 of Law HO-247 of December 22, 2010 “On Individualized Accounting of Income Tax, Profit Tax and Social Payments” (hereinafter referred to as the Law), the words “except for individual entrepreneurs engaged in the types of activities included in the list of Appendix No. 1 to the Law of the Republic of Armenia “On Tax Privileges for Self-Employed Persons”” shall be replaced with the words “except for individual entrepreneurs considered exclusively as micro-entrepreneurship entities as defined by the Tax Code of the Republic of Armenia”.
Article 3. Concepts used in this law
1. The following concepts are used in this law:
Old version.
3) individual entrepreneur according to the Law of the Republic of Armenia "On Individual Entrepreneur", with the exception of individual entrepreneurs engaged in the types of activities included in the list of Appendix No. 1 to the Law of the Republic of Armenia "On Tax Privileges for Self-Employed Persons";
New version.
3) individual entrepreneur according to the Law of the Republic of Armenia "On Individual Entrepreneur", with the exception of individual entrepreneurs considered exclusively micro- entrepreneurship entities as defined by the Tax Code of the Republic of Armenia;
Paragraph 6 should be amended as follows:
Old version.
6) natural person: employee, self-employed person, individual entrepreneur, notary, recipient of contractual income.
New version.
6) a natural person in accordance with the Tax Code of the Republic of Armenia.".
3) add the following content to point 12:
12) is obliged to submit an annual income tax calculation (declaration) in accordance with the Tax Code of the Republic of Armenia."
To supplement Part 1 of Article 7 of the Law with the following paragraph 7:
Article 7. Data to be included in the database:
7) in the case of individuals who are obliged to submit an annual income tax return (declaration), also:
a. information about family members: spouses, parents, sisters, brothers and children (adoptees and adopted children),
b. information on the period of stay in the Republic of Armenia during the tax year,
c. Information on personal income, including deductible (non-taxable) income, as defined by the Tax Code of the Republic of Armenia.
In Article 11 of the Law, after the words “self-employed persons”, add the words “natural persons who are obliged to submit an annual income tax return (declaration)”, and in the same part, replace the words “for each year, by April 20 of the year following the given year” with the words “within the time limits established by the Tax Code of the Republic of Armenia”.
Article 11. Submission of data necessary for the formation of the information base by individual entrepreneurs, notaries, self-employed persons, employees provided for in Part 6 of Article 10 of this Law, and recipients of contractual income
Old version.
1. Individual entrepreneurs, notaries, self- employed persons shall submit personalized calculations to the authorized body on the basis of this law for each year by April 20 of the year following the given year, and employees and persons receiving contractual income, as provided for in Part 6 of Article 10 of this law, shall submit a simplified calculation within the period specified for employers.
New version.
1. Individual entrepreneurs, notaries, self- employed persons, and natural persons obligated to submit an annual income tax return (declaration) shall submit personalized returns to the authorized body on the basis of this Law within the time limits established by the Tax Code of the Republic of Armenia, and employees and persons receiving contractual income, as provided for in Part 6 of Article 10 of this Law, shall submit a simplified return within the time limits established for employers.
3. On making additions and amendments to the Code of the Republic of Armenia on
Administrative Offenses.
Name of the legislative act:
On making additions and amendments to the Code of the Republic of Armenia on Administrative Offenses Law of the Republic of Armenia of 24.10.2025 N HO-327-N https://www.arlis.am/hy/acts/215600
Change status :
This Law shall enter into force on October 30, 2025.
Which legislative act was amended by the adoption of the above-mentioned act:
As a result of the adoption of this Law, a change has been made to the Law of the Republic of Armenia on Administrative Offenses.
What the changes are about:
These changes are related to the recent amendments to the Tax Code of the Republic of Armenia and, in particular, the introduction of a new procedure for submitting the annual income tax calculation (declaration).
The purpose of the amendments is to adapt the Code of Administrative Offenses to the new tax regulations so that it reflects the specifics of the procedure for electronic submission of income tax calculations and declarations.
In particular Article 169.1 of the Code clarifies that administrative liability does not apply in cases where the matter concerns the process of submitting the annual income tax calculation (declaration) as defined in Part 4.1 of Article 156 of the Tax Code.
With the same logic, amendments were also made to the second paragraph and Article 169.33, stipulating that declarations submitted in this special manner are excluded from cases subject to general administrative liability.
Thus, the amendments aim to exclude the application of administrative liability to individuals whose annual income tax calculation is considered to be submitted on the basis of pre-filling by the tax authority, as defined by the latest amendments to the Tax Code.
These amendments to the Code on Administrative Offenses were made to bring it into line with the new, automated procedure for declaring income tax.
In Article 169.1 of the Code of the Republic of Armenia of December 6, 1985 on Administrative Offenses (hereinafter referred to as the Code), the first paragraph after the word “declaration” shall be supplemented with the words “, except for the calculation (declaration) specified in Part 4.1 of Article 156 of the Tax Code of the Republic of Armenia”;
Article 1691. Maintaining accounting records (registrations) in violation, when this may cause (has caused) a tax deduction, or failure to submit a declaration or calculation within the established period:
Old version.
In addition to accounting, failure to maintain other records (registration) provided for by law or failure to register the objects of entrepreneurial activity or maintaining records (registration) in such a violation or entering false data into a declaration, except for the calculation (declaration) specified in Part 4.1 of Article 156 of the Tax Code of the Republic of Armenia, or into a calculation or report (including accounting) or other document serving as the basis for taxation, which may cause (have caused) a tax reduction, shall entail the imposition of a fine in the amount of fifteen to twenty-five times the established minimum wage.
New version.
In addition to accounting, failure to maintain other records (registrations) provided for by law, or failure to register the objects of entrepreneurial activity, or maintaining records (registrations) in such a manner as to violate them, or entering false data into a declaration or calculation or report (including accounting) or other document serving as the basis for taxation, which may cause (have caused) a tax reduction, shall entail the imposition of a fine in the amount of fifteen to twenty-five times the established minimum wage.
In the second paragraph, the words “Except for the cases specified in the third, fourth and fifth paragraphs of this article, the declaration” shall be replaced with the word “Declaration”, and in the same paragraph, after the words “financial statements”, the words “and the calculation (declaration) specified in Part 4.1 of Article 156 of the Tax Code of the Republic of Armenia” shall be added.
Old version.
Except for the cases specified in paragraphs three, four and five of this Article, failure to submit a declaration or calculation or any other document specified by law or other legal acts, except for financial statements, to tax authorities or, in cases specified by law, to local self-government authorities within the established period: shall entail the imposition of a fine in the amount of ten to twenty times the established minimum wage.
New version.
Failure to submit a declaration or calculation or any other document prescribed by law or other legal acts, with the exception of financial statements and the calculation (declaration) prescribed by Part 4.1 of Article 156 of the Tax Code of the Republic of Armenia, to tax authorities or, in cases prescribed by law, to local self-government bodies within the established period: shall entail the imposition of a fine in the amount of ten to twenty times the established minimum wage.
In Part 1 of Article 169.33 of the Code, after the word “calculation”, add the words “, except for the calculation (declaration) specified in Part 4.1 of Article 156 of the Tax Code of the Republic of Armenia,”
Old version.
1. Filling in incorrect (unreliable) data in the tax calculation submitted to the tax authority, which has not and cannot result in a tax reduction, shall result in a warning.
New version.
1. Filling in incorrect (unreliable) data in a tax calculation submitted to the tax authority, with the exception of the calculation (declaration) defined in Part 4.1 of Article 156 of the Tax Code of the Republic of Armenia, which has not resulted in and cannot result in a tax reduction, shall result in a warning.
PART II. COMPETITION AND CONSUMER SECTOR
(This section of legal updates includes legal news related to the field of competition and consumer protection for October 2025)
1. On establishing the procedure and conditions for submitting documents to the Competition and Consumer Protection Commission, classifying cases of the Competition and Consumer Protection Commission by type, maintaining administrative proceedings and other cases, their registration registers, and registers of registration of administrative and other legal acts, as well as the procedure for issuing, storing and archiving documents of the Competition and Consumer Protection Commission and repealing the Decision of the Competition Protection Commission No. 394 of December 28, 2021
Name of the legislative act:
On the procedure and conditions for submitting documents to the Competition and Consumer Protection Commission, classifying cases of the Competition and Consumer Protection Commission by type, maintaining administrative proceedings and other cases, their registration registers, and administrative and other legal acts registration registers, as well as establishing the procedure for issuing, storing and archiving documents of the Competition and Consumer Protection Commission and repealing the Competition Protection Commission's decision No. 394 of December 28, 2021, No. 718-N of October 21, 2025 https://www.arlis.am/hy/acts/215397
Change status :
This Decision entered into force on October 25, 2025.
What the changes are about:
This amendment concerns the establishment of a new system of internal procedures and document flow regulations of the Competition and Consumer Protection Commission (CCPC). With the new decision, the MSSUC establishes complete regulations for its work and administrative processes, including:
- Procedure for submitting documents (how individuals and legal entities submit documents to the commission),
- The order of classification of cases,
- Conditions for conducting administrative proceedings and other cases,
- The procedures for maintaining and recording registers, both for cases and for administrative and other legal acts,
- Procedure for issuing, storing and archiving documents.
The new decision invalidates Decision No. 394-N of December 28, 2021, which regulated the rules of document circulation and case proceedings of the former Commission for the Protection of Competition..
Based on Article 37, Part 1, Clause 24 and Part 2 of the Law "On Economic Competition and Consumer Protection", Articles 36 and 37 of the Law "On Regulatory Legal Acts " 1 of the articles Parts of the Competition and consumers interests defense the committee.
DECIDES
1. Define.
1) The procedure for submitting documents to the Competition and Consumer Protection Commission is in accordance with Appendix 1 .
2) The procedure for classifying cases of the Competition and Consumer Protection Commission by type, in accordance with Appendix 2 .
3) the procedure and conditions for conducting cases and other cases related to administrative proceedings, in accordance with Appendix 3 .
4) the procedure and conditions for maintaining registers of administrative proceedings and other cases, in accordance with Appendix 4 .
5) the procedure and conditions for maintaining registers of administrative and other legal acts, in accordance with Appendix 5 .
6) The procedure for printing, storing and archiving documents of the Competition and Consumer Protection Commission, in accordance with Appendix 6 .
2. To declare invalid the Resolution No. 394-N of the Commission for the Protection of Competition of December 28, 2021 “On the procedure and conditions for submitting documents to the Commission for the Protection of Competition, classifying cases of the Commission for the Protection of Competition by type, maintaining administrative proceedings and other cases, their registration registers, and registers of registration of administrative and other legal acts, as well as establishing the procedure for issuing, storing and archiving documents of the Commission for the Protection of Competition and declaring invalid the Resolution No. 59-N of the State Commission for the Protection of Economic Competition of June 18, 2008”.
3. This decision shall enter into force on the day following the date of its official publication.
4. As of the date of entry into force of this decision, the procedure in force prior to the adoption of this decision shall apply to current legal relations..
PART III: BANKING SECTOR
(This section of legal updates includes legal news related to the banking sector for October 2025)
1. On Amendments and Supplements to the Decision No. 280 of the Board of the Central Bank of the Republic of Armenia of October 7, 2014
Name of the legislative act:
Resolution No. 165-N of September 23, 2025 on Amendments and Supplements to the Decision No. 280 of the Board of the Central Bank of the Republic of Armenia of October 7, 2014 https://www.arlis.am/hy/acts/213886
Change status:
This amendment entered into force on October 7, 2025.
Which legislative act was amended by the adoption of the above-mentioned act:
As a result of the adoption of this Decision, an amendment was made to the Resolution of the Board of the Central Bank of the Republic of Armenia dated October 7, 2014 "On approving the procedure for registering reporting entities, as well as trust managers and persons performing management functions of other similar legal entities, as provided for by the Law of the Republic of Armenia "On Combating Money Laundering and Financing of Terrorism". in decision No. 280-N
What the changes are about:
The amendment concerns the inclusion of trust managers and persons performing management functions of other similar legal entities among those who are required to be registered with the Financial Monitoring Center of the Central Bank of the Republic of Armenia as reporting entities. Previously, the obligation to keep records applied only to reporting entities as defined in the Law on Combating Money Laundering and the Financing of Terrorism. With the new amendment, this scope has been expanded to also include trust managers and persons performing management functions of other similar legal entities, as provided for in Part 2 of Article 9 of the Law.
In other words, the essence of the change is that now those persons who perform management functions of trusts or other similar legal entities are also subject to mandatory registration, which stems from the international obligations assumed by Armenia in the field of combating money laundering and terrorist financing and recent legislative amendments.
This change is particularly related to the recent amendments to the Law "On Combating Money Laundering and the Financing of Terrorism", with the aim of ensuring the registration and supervision of all risky entities in this sector.
In paragraph 1 of the Decision No. 280 of the Board of the Central Bank of the Republic of Armenia of October 7, 2014, after the words “reporting entities”, add the words “as well as trust managers and persons performing management functions of other similar legal entities”.
Old version.
This procedure establishes the procedure for registering reporting entities (hereinafter referred to as reporting entities) defined in Article 3, Part 1, Point 4 of the RA Law "On Combating Money Laundering and Financing of Terrorism" in the Financial Monitoring Center of the Central Bank of the Republic of Armenia (hereinafter referred to as the Financial Monitoring Center).
New version.
This procedure establishes the procedure for registering reporting entities defined by Article 3, Part 1, Point 4 of the RA Law "On Combating Money Laundering and Financing of Terrorism" (hereinafter referred to as the reporting entity), as well as trust managers and persons performing management functions of other similar legal entities with the obligation to register based on Article 9, Part 2, in the Financial Monitoring Center of the Central Bank of the Republic of Armenia (hereinafter referred to as the Financial Monitoring Center).
Aiming to establish the procedure for registering trust managers and persons performing management functions of other similar legal entities,
Based on Article 11, Part 1, Paragraph 7 of the Law "On Combating Money Laundering and Financing of Terrorism",
Guided by Part 3 of Article 2, Point "e" of Article 20 of the Law "On the Central Bank of the Republic of Armenia" and Articles 33 and 34 of the Law "On Regulatory Legal Acts", the Board of the Central Bank of the Republic of Armenia
It is decided.
The procedure shall be supplemented with Chapter 4 with the following content:
Chapter 4. Procedure for registering a person performing management functions of a trust manager or other similar legal entity
14. The registration of a person performing management functions of a trust manager or other similar legal entity shall be carried out in accordance with the procedure established by Chapters 2 and 3 of these Regulations.
15. When submitting an application for registration by a person performing management functions of a trust manager or other similar legal entity, the type of activity shall be “management of a trust or other similar legal entity.”:
PART IV. CRYPTOASSETS SECTOR
(This section of legal updates includes legal news related to the crypto-asset sector as of October 2025)
1. Draft Regulation 7/01 on the registration and licensing of a person providing services with crypto assets, the issuance of a permit for the operation of a branch and representative office of a foreign person providing services with crypto assets, the procedure for obtaining prior consent for having a significant participation in the authorized capital of a person providing services with crypto assets
Name of the legislative act:
Draft Regulation 7/01 on the registration and licensing of a person providing services with crypto assets, the issuance of a permit for the operation of a branch and representative office of a foreign person providing services with crypto assets, the procedure for obtaining prior consent for having a significant participation in the authorized capital of a person providing services with crypto assets https://www.cba.am/file_manager/Regulation/Regulation_7.01_CASP_Licensing_Regulation.pdf
Change status :
This Decision entered into force on September 9, 2025.
What the changes are about:
This draft refers to the establishment of a unified legal regulation for the authorization, registration, and licensing of activities of persons providing services with crypto assets, as well as the clarification of the list of documents and information to be submitted by them, the procedure for submission, and the deadlines.
The goal of the project is to ensure the legality, transparency, and controllability of the activities of crypto- asset market participants in the Republic of Armenia by clearly defining the procedures for granting authorization, licensing, registration, and prior consent by the Central Bank.
The project was developed by:
- Based on Article 19, Parts 4 and 8, Article 20, Parts 2 and 4, Article 22, Parts 7 and 8, Article 25, Part 5, Article 26, Part 2, Article 27, Parts 1, 2 and 10, Article 28, Part 3 and Article 94, Part 2 of the Law "On Cryptoassets",
- as well as being guided by Part 3 of Article 2 and Point “e” of Part 1 of Article 20 of the Law “On the Central Bank of the Republic of Armenia”.
The draft defines Regulation 7/01, approved by the Central Bank, which regulates:
- conditions for registration, licensing and operation of persons providing services with crypto assets,
- procedures for granting permits to branches and representative offices of entities providing services with foreign crypto assets,
- The form, content requirements, procedure and deadlines for submission of documents and information submitted to the Central Bank,
- The process of obtaining prior consent for a significant participation in the authorized capital.
Thus, this draft is a regulatory act implemented by the Central Bank, which aims to form a regulatory
framework in the field of crypto-assets that is lawful, controllable, and in line with international standards.
Aiming to establish the procedure for permitting the activities of persons providing services with crypto assets, the list of necessary information and documents, as well as the procedure and deadlines for their submission to the Central Bank,
Based on Article 19, Parts 4 and 8, Article 20, Parts 2 and 4, Article 22, Parts 7 and 8, Article 25, Part 5, Article 26, Part 2, Article 27, Parts 1, 2 and 10, Article 28, Part 3, Article 94, Part 2, of the Law "On Cryptoassets",
Guided by Part 3 of Article 2 and Point “e” of Part 1 of Article 20 of the Law “On the Central Bank of the Republic of Armenia”, the Board of the Central Bank
WHO IS IT?
1. To establish Regulation 7/01 on "Registration and licensing of a person providing services with crypto assets, issuance of a permit for the operation of a branch and representative office of a foreign person providing services with crypto assets, and the procedure for obtaining prior consent for having a significant participation in the authorized capital of a person providing services with crypto assets" in accordance with the Appendix to this decision.
"REGISTRATION AND LICENSING OF A PERSON PROVIDING SERVICES WITH CRYPTOASSETS, ISSUANCE OF A PERMIT FOR THE ACTIVITY OF A BRANCH AND REPRESENTATIVE OF A PERSON PROVIDING SERVICES WITH CRYPTOASSETS IN A FOREIGN COUNTRY, PROCEDURE FOR OBTAINING PRIOR CONSENT TO A SIGNIFICANT PARTICIPATION IN THE AUTHORIZED CAPITAL OF A PERSON PROVIDING SERVICES WITH CRYPTOASSETS"
REGULATION 7/01 CHAPTER 1 GENERAL PROVISIONS
1. This regulation defines:
1) the procedure for registration and licensing of a person providing services with crypto assets, requirements for the content of documents and information,
2) unified form of license for a person providing services with crypto assets,
3) the procedure for issuing a permit for the operation of a branch and representative office of a person providing services with foreign crypto assets, requirements for the content of documents and information,
4) the procedure for obtaining a license or permit for the provision of additional (one or more) services with crypto assets by a person providing services with crypto assets or a branch of a foreign person providing services with crypto assets,
5) the form of the business plan of a person providing services with crypto assets and a branch of a person providing services with foreign crypto assets, as well as the procedure and deadlines for submitting the business plan and any amendments to it,
6) the procedure for informing the Central Bank about the establishment of a branch and representative office of a person providing services with crypto assets,
7) the procedure and conditions for the termination of the activities of a branch or representative office of a person providing services with crypto assets, as well as the temporary suspension of activities,
8) the procedure for obtaining the Central Bank's prior consent for the operation of a branch or representative office of a person providing services with crypto assets outside the territory of the Republic of Armenia,
9) the procedure for obtaining permission to provide services with crypto assets by investment companies, investment fund managers, regulated market operators and central depositories and the procedure for terminating the provision of services with crypto assets,
10) the procedure for revoking or invalidating the license of a person providing services with crypto assets, the permit for the operation of a branch or representative office of a foreign person providing services with crypto assets,
11) the procedure for obtaining prior consent for acquiring a significant stake in the authorized capital of a person providing services with crypto assets,
12) the procedure for submitting information on the beneficial owners of a person providing services with crypto assets and a person providing services with foreign crypto assets,
13) reports and information on interconnected and significant participants regularly submitted by a crypto- asset service provider or a branch of a foreign crypto-asset service provider,
14) requirements for the area of operation of a crypto-asset service provider, a branch of a foreign crypto- asset service provider and a branch of a crypto-asset service provider,
15) the procedure for submitting changes to the documents and information submitted in accordance with this Regulation to the Central Bank.
2. All documents required by this Regulation shall be submitted to the Central Bank electronically, through the CBA-Net system, and in case of impossibility, on an electronic medium and with an accompanying note, except for information protected by the legislation of the Republic of Armenia, which may also be submitted by entering it manually to the Central Bank. Moreover, the documents shall be submitted in Armenian, in Unicode font, in "PDF" format, with the exception of the tables attached to the business plan, which shall be submitted in Excel format.
3. The charters of a person providing services with crypto assets, a branch of a person providing services with foreign crypto assets (amendments, supplements to them) shall be submitted to the Central Bank with an electronic-digital signature provided by the Central Bank.
4. The requirement set forth in paragraph 3 of this Regulation shall apply to newly established entities providing services with crypto assets, as well as newly established branches of entities providing services with foreign crypto assets, from the moment of receiving an electronic digital signature by the Central Bank. Moreover, the entities provided for in this paragraph, when already connected to the CBA-net system and having received the relevant security certificates, shall re-submit the charters registered by the Central Bank to the Central Bank through the CBA-net system in the "PDF" format with an electronic digital signature within three business days after the date of receiving the relevant signature.
5. The documents specified in this Regulation, as well as the documents and information submitted in addition, shall be submitted to the Central Bank with an attached petition (application), signed by the competent management body. In the petition (application) submitted to the Central Bank, with the exception of the petition forms specified in the annexes to this Regulation, the person signing the petition (application) shall indicate that the attached documents and information are reliable and complete and shall be aware that the misrepresentation or omission of any fact may lead to the rejection of the petition (application).
6. In case of submitting the documents specified in this Regulation through a representative, the power of attorney issued to him in accordance with the procedure established by the legislation of the Republic of Armenia shall also be submitted.
7. The file name of the petition (application) submitted electronically must have the following structure: name of the person providing cryptographic services dash type of document dash content of the document (within 12 characters) dash month number in yyyy tt format dot file abbreviation
8. Foreign language documents are submitted with an Armenian translation approved by the competent administrative body or notarized, and in case of a conflict or inconsistency between Armenian and foreign language documents, the Armenian version shall prevail.
9. In case of non-material deficiencies (errors, non-legal inaccuracies, arithmetic errors or other similar omissions) in the documents submitted to the Central Bank in accordance with this Regulation, the Central Bank shall notify the person who submitted the application of the deficiencies through the contact information specified in the petition, and the Central Bank shall make a relevant decision after eliminating these deficiencies. Re-incomplete submission of documents may serve as a basis for rejecting the petition (application).
10. The calculation of the time limits established by the Law "On Cryptoassets" (hereinafter referred to as the Law) for licensing, registration, obtaining prior consent, obtaining a permit, as well as other decisions adopted by the Central Bank in accordance with this Regulation, begins from the moment all required documents are properly submitted to the Central Bank.
11. The information subject to submission in accordance with this Regulation for licensing, registration, obtaining prior consent, obtaining permission or notification, which has previously been submitted to the Central Bank within the framework of this or another process, shall be submitted to the Central Bank again only if it has been amended, in terms of amendments. Moreover, in case the relevant amendments are not submitted in accordance with this point or are submitted only in terms of amendments, the petition (application) shall indicate this, indicating in which process and when the amendments were submitted.
12. If the information submitted in the documents required by this Regulation has changed before the decision is made through the relevant process, the changed document must be submitted to the Central Bank within 3 business days after the change in information.
13. In the cases specified in this Regulation, ratings issued by international rating organizations shall be applied according to the following principle, unless otherwise provided by this Regulation:
1) if the organization has a rating issued by only one rating organization specified in this Regulation, then only that rating shall be taken as the basis,
2) if the organization has two different ratings issued by different rating organizations specified in this Regulation, then the lowest rating shall be taken as the basis,
3) if the organization has three or more ratings issued by different rating organizations specified in this Regulation, then the lowest rating of the two highest ratings shall be taken as the basis.
14. The financial statements required by this Regulation must be prepared:
1) in accordance with the standards set forth in the Law on Accounting, or
2) in the case of foreign legal entities, in accordance with International Financial Reporting Standards or other internationally recognized standards.
15. The Central Bank may request additional information and clarifications regarding points requiring clarification and interpretation of the information and reports required by this Regulation, as well as for specific analytical or supervisory purposes.
16. In case of suspension of the period for consideration of an application, petition or any other petition by the Central Bank in accordance with the Law, the period for consideration from the moment of the decision to resume the consideration shall not exceed the number of days resulting from the difference between the days prior to the suspension and the period set for consideration.
17. In case of payment of the authorized capital or increase of the authorized capital for the first time through a savings account opened at the Central Bank, an application for opening a savings account shall be submitted to the Central Bank in accordance with Appendix 9 of this Regulation, as well as a receipt for payment for opening a savings account.
2. Draft Regulation 7/02 on "Minimum limits of total capital of persons providing services with crypto assets, calculation procedure, elements participating in the calculation and deducted from the calculation"
Name of the legislative act :
Draft Regulation 7/02 on "Minimum limits of total capital of persons providing services with crypto assets, calculation procedure, elements participating in the calculation and deducted from the calculation"
https://www.cba.am/file_manager/Regulation/Regulation_7.02_Prudential%20Requirements_On_CASPs.pdf
What is the project about:
This draft concerns the establishment of minimum limits for the total capital of persons providing services with crypto assets and the procedure for their calculation, the purpose of which is to ensure their financial stability, solvency and protection of the interests of clients, as well as to contribute to the efficient and secure operation of the crypto assets market.
The draft establishes the rules according to which persons providing services with crypto assets are required to maintain minimum levels of total capital, with the aim of preventing the negative impact of possible financial losses during their activities on both themselves and other market participants.
The draft was developed based on Article 24, Part 2, Clause 5 and Article 44, Part 2 of the Law "On Cryptoassets", as well as guided by Article 2, Part 3 and Article 20, Part 1, Clause "e" of the Law "On the Central Bank of the Republic of Armenia". The draft envisages approving Regulation 7/02, “Minimum limits of total capital of persons providing services with crypto assets, calculation procedure, elements participating in the calculation and deducted from the calculation”, which defines: legal and economic standards for minimum total capital, capital calculation methodology, elements included in capital and excluded from the calculation, Procedure for assessing violation of the minimum capital requirement. Thus, this draft is a normative act adopted by the Central Bank, the purpose of which is to create a financially stable and responsible regulatory environment in the crypto-asset market, strengthening the credibility of the system and reducing systemic risks.
Add a new sentence to Part 7 with the following content:
Aiming to establish minimum total capital limits for persons providing services with crypto-assets in order to absorb potential losses related to their activities, ensure their financial stability, protect the interests of clients and, in general, ensure the normal functioning of the crypto-asset market,
Based on Article 24, Part 2, Clause 5, Article 44, Part 2 of the Law "On Cryptoassets",
Guided by Part 3 of Article 2 and Point “e” of Part 1 of Article 20 of the Law “On the Central Bank of the Republic of Armenia”, the Board of the Central Bank of the Republic of Armenia
DECIDES:
1. To approve Regulation 7/02 on “Minimum limits of the total capital of persons providing services with crypto assets, the procedure for calculation, elements participating in the calculation and deducted from the calculation” in accordance with the appendix to this decision. 2. This decision shall enter into force on the tenth day following the date of official publication. 2 ANNEX 2 Resolution of the Board of the Central Bank of the Republic of Armenia for 2025
REGULATION 7/02 "MINIMUM LIMITS OF TOTAL CAPITAL OF PERSONS PROVIDING SERVICES WITH CRYPTOASSETS, CALCULATION PROCEDURE, ELEMENTS PARTICIPATING IN THE CALCULATION AND DEDUCTIBLE FROM THE CALCULATION"
CHAPTER 1. SUBJECT OF REGULATION
1. This Regulation establishes the minimum limits of the total capital of persons providing services with crypto assets operating in the territory of the Republic of Armenia, the calculation procedure, the elements participating in the calculation and deducted from the calculation, and the amount of violation of the minimum total capital standard.
2. This regulation does not apply to branches of entities providing services with foreign crypto assets.
CHAPTER 2. BASIC CONCEPTS
3. The terms used in this regulation have the following meanings:
1) "fixed costs" - costs that do not change depending on the volume of services provided by a person providing crypto-asset services,
2) "average daily calculation of the month" - the sum of daily values during the month, relative to the number of days in the month,
3) "annual average daily calculation" - the sum of daily values during the year, relative to the number of days in the year.
4) “trading portfolio” means a portfolio of assets or other financial instruments that may include only those assets or other financial instruments whose sale or full hedging is not restricted in any way by legal (including based on instructions of the Central Bank of the Republic of Armenia), contractual or other grounds. An asset or other financial instrument may be included in the trading portfolio if it is carried at fair value through profit or loss, and the person providing services with crypto-assets has acquired it for the purpose of reselling in the short term, generating income from short-term price fluctuations, generating income from the difference in prices in the markets, or hedging the risks arising from instruments that meet the three aforementioned purposes.
4. Other concepts used in these Regulations have the meaning assigned to them in the Law of the Republic of Armenia “On Cryptoassets” (hereinafter referred to as the Law) and in the normative legal acts adopted on the basis of the Law and in the legislation of the Republic of Armenia. ( ... )
3. Draft Regulation 7/05 on establishing the procedure for registering persons providing services with crypto assets and heads of branches of persons providing services with foreign crypto assets
Name of the legislative act :
Draft Regulation 7/05 on the procedure for registering persons providing services with crypto assets and heads of branches of persons providing services with foreign crypto assets
https://www.cba.am/file_manager/Regulation/Regulation_7.05_Registration_of_CASP_managers.pdf
What is the project about:
This draft refers to the establishment of a unified procedure for registering persons providing services with crypto assets and heads of branches of persons providing services with foreign crypto assets, which provides for the clarification of the list of heads subject to registration, the procedures for registration, refusal of registration and deregistration.
The goal of the project is to ensure that the management of organizations providing services with crypto assets meets high standards of professionalism, integrity, and responsibility, contributing to market stability and strengthening the trust of investors and customers.
The draft was developed based on Part 2 of Article 34, Article 87 and Part 3 of Article 93 of the Law "On Cryptoassets", as well as guided by Part 3 of Article 2 and Point "e" of Part 1 of Article 20 of the Law "On the Central Bank of the Republic of Armenia".
The draft envisages approving Regulation 7/05, “Regulations on the Registration of Persons Providing Crypto- Asset Services and Heads of Branches of Persons Providing Foreign Crypto-Asset Services,” which stipulates:
- list of managers subject to registration,
- the grounds and procedure for registering and refusing registration of managers,
- the grounds and procedure for deregistration,
- the form, content and deadlines for submitting documents regarding managers,
- Procedure for the implementation of information verification and control functions by the Central Bank.
Thus, this draft is a regulatory legal act of the Central Bank, which aims to form a crypto-asset market with a management team that meets high professional and ethical standards, ensuring effective management, proper risk control, and reliable market operations.
In order to establish the list of managers subject to registration of a person providing services with crypto assets, the procedure for registering, refusing registration and deregistering managers,
Based on Article 34, Part 2, Article 87, Part 3 of Article 93 of the Law "On Cryptoassets",
Guided by Part 3 of Article 2 and Point "e" of Part 1 of Article 20 of the Law "On the Central Bank of the Republic of Armenia", the Board of the Central Bank of the Republic of Armenia WHO IS IT? 1. To establish Regulation 7/05 “Regulation on the Procedure for Registration of Persons Providing Crypto- Asset Services and Heads of Branches of Persons Providing Foreign Crypto-Asset Services” in accordance with the Appendix to this Decision. 2. This Decision shall enter into force on the tenth day following the date of its official publication.
"REGISTRATION PROCEDURE FOR PERSONS PROVIDING SERVICES WITH CRYPTOASSETS, HEADS OF BRANCHES OF PERSONS PROVIDING SERVICES WITH FOREIGN CRYPTOASSETS" REGULATION 7/05 CHAPTER 1 GENERAL PROVISIONS
1. This Regulation establishes the list of managers of entities providing services with crypto assets, branches of entities providing services with foreign crypto assets, subject to registration with the Central Bank, and the procedure for registering, refusing registration, and deregistering managers.
2. The information specified in this Regulation on the registration of managers of a crypto-asset service provider, a branch of a foreign crypto-asset service provider or changes in their composition shall be submitted to the Central Bank through the system provided by the Central Bank on the website https://www.cba.am/hy/registration-of-managers/, by entering the data online in Armenian and attaching other documents required by this Regulation in the field specified in the system, through the login data (name and password) provided by the Central Bank to the responsible employee authorized to approve the petitions of the managers of the branch of the given crypto-asset service provider, foreign crypto-asset service provider.
3. Applications for registration of managers of a crypto-asset service provider or a branch of a foreign crypto- asset service provider applying for a license or branch operation, and other documents required by this regulation within the framework of this process, shall be submitted in electronic format, with references on managers being submitted in Excel format, and other documents required by this regulation in PDF format.
4. The documents specified in this Regulation, as well as the documents and information submitted in addition, shall be submitted to the Central Bank with an attached petition (application), signed by the competent management body. In the petition (application) submitted to the Central Bank, with the exception of the petition forms specified in the annexes to this Regulation, the person signing the petition (application) shall state that the attached documents and information are reliable and complete and shall be aware that any misrepresentation or omission of any fact may result in the rejection of the petition (application).
5. In case of submitting the documents specified in this Regulation through a representative, the power of attorney issued to him in accordance with the procedure prescribed by the legislation of the Republic of Armenia shall also be submitted.
6. The file name of the petition (application) submitted electronically must have the following structure: encrypted data service dash Document type dash Document header dash Month number: ooooh dot File name of the person providing the file (within 12 characters) abbreviation in tt format
7. Foreign language documents are submitted with an Armenian translation approved by the competent administrative body or notarized, and in case of a conflict or inconsistency between Armenian and foreign language documents, the Armenian version shall prevail.
8. In case of non-material deficiencies (errors, non-legal inaccuracies, arithmetic errors or other similar omissions) in the documents submitted to the Central Bank in accordance with these Regulations, the Central Bank shall notify the person who submitted the application of the deficiencies and the Central Bank shall make a relevant decision after eliminating these deficiencies. Re-submission of incomplete documents may serve as a basis for rejection of the petition (application).
9. The calculation of the time limits set by the Law "On Cryptoassets" for the registration of managers specified in this Regulation begins from the moment all required documents are properly submitted to the Central Bank.
10. If the information submitted in the documents required by this Regulation has changed before the decision is made through the relevant process, the changed document must be submitted to the Central Bank within 3 business days after the information change occurs.
11. The Central Bank may request additional information and clarifications regarding points requiring clarification and interpretation of the information and reports required by this Regulation, as well as for specific analytical or supervisory purposes.